First Horizon Advisors Inc. Raises Holdings in The New York Times Company (NYSE:NYT)

First Horizon Advisors Inc. lifted its holdings in shares of The New York Times Company (NYSE:NYTGet Rating) by 698.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 950 shares of the company’s stock after acquiring an additional 831 shares during the period. First Horizon Advisors Inc.’s holdings in New York Times were worth $45,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its stake in shares of New York Times by 8.6% during the third quarter. BlackRock Inc. now owns 13,523,425 shares of the company’s stock worth $666,299,000 after acquiring an additional 1,075,003 shares during the last quarter. Farallon Capital Management LLC grew its stake in shares of New York Times by 23.0% during the third quarter. Farallon Capital Management LLC now owns 8,136,258 shares of the company’s stock worth $400,873,000 after acquiring an additional 1,521,000 shares during the last quarter. Sculptor Capital LP grew its stake in shares of New York Times by 1.5% during the third quarter. Sculptor Capital LP now owns 5,546,320 shares of the company’s stock worth $273,267,000 after acquiring an additional 82,627 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of New York Times by 11.5% during the third quarter. Geode Capital Management LLC now owns 2,314,103 shares of the company’s stock worth $114,015,000 after acquiring an additional 238,848 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of New York Times by 6.3% during the third quarter. Bank of New York Mellon Corp now owns 1,783,242 shares of the company’s stock worth $87,861,000 after acquiring an additional 106,455 shares during the last quarter. Institutional investors and hedge funds own 90.76% of the company’s stock.

New York Times stock opened at $33.54 on Friday. The New York Times Company has a 52 week low of $31.68 and a 52 week high of $56.19. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 31.06 and a beta of 0.89. The stock has a 50-day moving average price of $42.59 and a 200 day moving average price of $44.31.

New York Times (NYSE:NYTGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. New York Times had a return on equity of 13.87% and a net margin of 8.58%. The company had revenue of $537.40 million during the quarter, compared to the consensus estimate of $543.35 million. During the same period in the previous year, the company posted $0.26 earnings per share. New York Times’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, analysts expect that The New York Times Company will post 1.17 EPS for the current fiscal year.

New York Times declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 2nd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase up to 2.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts recently commented on NYT shares. StockNews.com started coverage on New York Times in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research raised New York Times from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a report on Friday, April 8th.

In other New York Times news, CEO Levien Meredith A. Kopit sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The stock was sold at an average price of $42.78, for a total value of $427,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Diane Brayton sold 9,999 shares of the business’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $41.44, for a total value of $414,358.56. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

New York Times Company Profile (Get Rating)

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

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Institutional Ownership by Quarter for New York Times (NYSE:NYT)

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